Sizzling Tech Scene ups Portland Profile, Boosts Office Market

Portland isn’t knocking Silicon Valley off its high-tech pins, but the city makes a respectable showing in Jones Lang LaSalle’s take on the state of the high tech market.

Portland ranks 16th in the nation as measured by job growth, share of venture capital invested, patents awarded and the number of people age 25 and over with a bachelor’s degree or higher.

According to JLL, Portland-area high tech employment grew 1.9 percent, to 56,587 jobs, and it landed 1.4 percent of the high-tech venture capital funding in the first quarter of the year, or $58.7 million.

Portland-area firms secured 1,753 utility patents in 2011 and 34.2 percent of the population age 5 and above holds a bachelor’s degree or more.

High tech has been a key driver for the office market in the past year. Key tech related leases included:

  • Tripwire, 116,500 square feet at 101 S.W. Main St.
  • WebTrends, 64,676 square feet at U.S. Bancorp Tower, 111 S.W. Fifth Ave.
  • Urban Airship, 40,000 square feet, 1417 N.W. Everett St.

Source: Portland Business Journal